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MCX Major Commodities Support and Resistance Levels for 21st July 2014

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  • Trading as per support and resistance levels may be quite useful for intraday trading in commodities.
  • Resistance is termed as the level where the commodity generally gets some opposite force before it can go further up.
  • A support is the level where a Commodity get buying interest before it can fall further.
  • Under the normal market conditions or in the absense of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying/selling.
  • In general, it is advisable to buy the commodities at support levels and sell at the resistance levels.
  • In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.

 

Support and Resistance for 21st July 2014

MCX Bullion Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Gold Aug-14 27768 27880 28030 28142 28292
Silver Sep-14 44278 44604 45088 45414 45898
MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Aluminium Jul-14 117.50 118.10 118.85 119.45 120.20
Copper Aug-14 420.38 423.27 427.63 430.52 434.88
Nickel Jul-14 1088.73 1105.37 1132.43 1149.07 1176.13
Lead Jul-14 129.42 130.28 131.02 131.88 132.62
Zinc Jul-14 136.78 137.47 138.13 138.82 139.48
MCX Energy Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Crude Oil Jul-14 6156 6183 6223 6250 6290
Natural Gas Jul-14 234.40 236.10 238.30 240.00 242.20